Who are the richest F1 drivers in the world right now? How much are the wealthiest Formula 1 racing drivers worth? As Formula 1 enjoys huge success, the drivers, who provide the majority of the action on the tracks have enjoyed financial gains from their exploits. Read on to find out if your favourite F1 driver made our top list.

Often, the most successful on the race tracks have enjoyed the most financial success which arises from lucrative contracts and mouth-watering endorsement deals with top brands. SportyTell takes an in-depth look at the top-10 richest F1 drivers in the world and their net worths in 2020.

The Richest F1 Drivers in the World Right Now

Our list of the top-10 wealthiest F1 drivers in the world was compiled based on facts and figures obtained from Forbes and Celebrity Net Worth. The wealth of some of these F1 drivers may not be entirely generated from the sport, which was a factor considered during this compilation.

10. Nico Rosberg

Net Worth: $50 million

Retired and out of action, Rosberg’s stint in the Formula 1 was marked by a tense rivalry between him and current defending champion, Lewis Hamilton. The rivalry between him and Hamilton led him to become the only driver who has lifted the Formula 1 Championship aside defending champion, Lewis Hamilton in the last 6 years. Rosberg who raced for team Mercedes is most recognized in the Formula 1 for his 2016 Championship win, which was preceded by a tense rivalry between him and Hamilton. Nico Rosberg’s net worth is $50 million as of 2020.

9. David Coulthard

David Coulthard (Image credit: PlanetF1)

Net Worth: $80 million

From 1994 to 2008, David Coulthard raced with the several talented racers on the Formula 1 racing tracks across the world. During those 14 years of steering, David Coulthard tried but was not successful in winning the Formula 1 Championship. On several occasions, he came close but he wasn’t close enough. In 1998, David Coulthard who was then competing for Williams emerged third. The next three years, saw him try with a great deal of determination which saw him emerge second. David Coulthard now utilises his experience accumulated as an F1 driver in providing analysis of racing series as a journalist. David Coulthard’s net worth $80 million as of 2020, making him the 9th richest F1 driver in the world.

8. Ralf Schumacher

Ralf Schumacher (Image credit: Sky Sport)

Net Worth: $100 million

The name Schumacher rings a bell in the mind of every avid Formula 1 fan, but Ralf Schumacher isn’t who you think he is. Ralf Schumacher is known as the younger brother of F1 legend, Michael Schumacher. Ralf competed in the Formula 1, for 10 years, precisely from 1997 to 2007. Ralf who drove for Toyota, Williams as well as Jordan throughout his career, won 6 Grand Prix. After 10 years of not achieving the desired results he sort, Ralf retired and went on to join the Deutsche Tourenwagen Masters. Ralf Schumacher’s worth is $100 million as of 2020.

7. Edmund Irvine Jr.

Edmund Irvine Jr

Net Worth: $120 million

Northern Ireland racer, Edmund Irvine Jr, may not be widely known in the formula 1 as he competed for a relatively short period and the did not accrue much success which will have placed in the public domain. Despite debuting in the F1 in 1993, it wasn’t until the 1999 season that he emerged as a front runner after he won four races during the season which greatly challenged eventual winner, Mika Häkkinen, for the F1 Championship. Edmund Irvine Jr’s net worth is $120 million as of 2020, placing him 7th on our list of the richest F1 drivers in the world.

6. Sebastian Vettel

Sebastian Vettel (Image credit: Getty Images)

Net Worth: $120 million

In Formula 1, Sebastian Vettel needs no introduction. Vettel is one of the most successful and highest-paid drivers in Formula 1. Despite the fact that he has not won a title since 2013, Vettel remains a very significant driver in Formula 1. Through 2010 to 2013, Vettel led Red Bull to a very successful campaign as he won the Formula 1 Championship. His reign was however cut short by defending champion, Lewis Hamilton. Since the retirement of Nico Rosberg, he has stepped up as the main rival of Lewis Hamilton. Vettel who currently races for Ferrari holds the record for most successive wins with 9 racing wins. Sebastian Vettel’s net worth is $120 million as of 2020, making him the 6th richest F1 driver in the world.

5. Jenson Button

Jenson Button

Net Worth: $150 million

Still a racing driver but no longer a Formula 1 driver, Jenson Button’s stint in Formula 1 lasted for 17 years. Over those years, he competed for Renault, Honda, BAR, Willians, Brawn GP and Benetton. Button is most recognized in Formula 1 for his successful 2009 season, where he emerged the Formula 1 Champion while competing with Brawn GP. Jenson Button’s net worth is $150 million in 2020.

4. Kimi Räikkönen

Net Worth: $180 million

Iceman is no stranger to Formula 1. Kimi Räikkönen who is dubbed the Iceman currently competes for Alfa Romeo Racing. Kimi who left the Formula 1 in 2010 returned to action in 2012. Prior to leaving the Formula 1, Kimi won the 2007 Formula 1 Championship. Since his return to the Formula 1 in 2012, though he has won some Grand Prix, Kimi has not won any F1 Championship. Kimi Raikkonen’s net worth is valued at $180 million in 2020, making him 4th on our wealthiest F1 drivers list.

3. Fernando Alonso

Fernando Alonso

Net Worth: $240 million

A very successful Spanish racer, Alonso loves to try his hands at various racing tournaments and the Formula 1 was one stop in his career, which he’ll never forget. Alonso who retired from the Formula 1 in 2018, won the 2005 and 2006 Formula 1 Championship. Alonso won the championship while competing for Renault. While he competed in the Formula 1, Alonso competed for Minarda, McLaren, Ferrari and Renault. Fernando Alonso’s net worth is $240 million in 2020.

2. Lewis Hamilton

Lewis Hamilton (Image credit: Daimler AG)

Net Worth: $285 million

In every Formula 1 race, fans always have their eyes out for Lewis Hamilton. This is as a result of the fact that Hamilton has set a standard which no one in Formula 1 except himself has lived up to. For his impressive achievements in the Formula 1 which includes 6 Formula 1 championship wins, with three of those wins successive, plus other records, he has been touted by pundits as the greatest driver in the history of the Formula 1. Hamilton is the current defending Champions in Formula 1. Lewis Hamilton’s net worth is $285 million in 2020, making him the 2nd richest F1 driver in the world right now.

1. Michael Schumacher

Michael Schumacher (Image: Bongarts/Getty Images via Mirror Online)

Net Worth: $600 million

The name Schumacher attracts respect and honour in Formula 1. This is as a result of the fact that the man who goes by the name, Michael Schumacher is by any standard, one of the few greatest drivers that have raced the tracks of the Formula 1. Michael Schumacher has won 7 F1 Championships, the most for a Formula 1 driver, and five of this wins came successively. He also doubles as the winner of the most Grand Prix. Michael Schumacher ranks as the number one Formula 1 driver in history, an opinion which may be disputed by some pundits and fans. Michael Schumacher’s net worth is valued at $600 million as of 2020, making him the richest F1 driver in the world.

Background

The Formula 1, a widely known sports which features intense race, stiff competitions, regular outbursts between drivers as well incredible racing skills from the very best in the world of single-seater auto racing, has emerged as not just an entertaining sports, but one with stakes so high, that drivers in a bid to achieve success employ various tactics several of which have intrigued fans.

As a result of the various tactics and the intense competition featured in Formula 1, the sports has attracted a loyal fan base of about 500 million individuals located in various geographical regions. As drivers travel from various parts of the world, i.e Monaco to Bahrain, to compete at various races, dubbed Grand Prix, fans turn out in large numbers to see first hand the action that occurs on the race tracks. Regularly, fans are thrilled by the intensity of races, that rivalry between drivers, such as the Hamilton-Vettel which is the face of the Mercedes-Ferrari rivalry, has been a focal point around which the Formula 1 had shaped itself in recent years.

The individual success of drivers in Formula 1, has also added to the success of the sports.

Conclusion

There you have it — our top-10 compilation of the richest F1 drivers in the world in 2020. What are your thoughts? Please share with us in the comments section below.